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Egyptian Media Production City’s net profits up by 77% YoY

The Clap

Egyptian Media Production City (EMPC) has unveiled its 2023 earnings. Here’s the breakdown…

Revenues:

In 2023, EMPC earned EGP 874.59 million, which is a 31.22% YoY increase.

Gross Profit:

EMPC garnered EGP 589.24 million of gross profits in 2023, showing a 43.59% increase YoY.

Gross Profit Margin:

EMPC’s gross profit margin — which represents the percentage of revenue that remains after subtracting the costs of goods sold — grew to 67.37% in 2023, up from 61.57% in 2022. This metric is an indicator of improved efficiency in managing costs and generating profits.

Net Profit:

After deducting all expenses, including taxes and interest, EMPC’s net profit for 2023 was EGP 481.69 million, a substantial 77.07% increase from 2022.

Net Profit Margin:

EMPC’s net profit margin rose to 55.08% in 2023 from 40.82% in 2022. This helps investors assess if a company’s management is generating enough profit from its sales and whether operating costs and overhead costs are under control.

The Main Drivers:

The company primarily attributed the increase in net profit to higher rental costs and an increased student enrollment at its International Academy of Engineering and Media Sciences.